Korea Electric Power (NYSE:KEP) Sets New 52-Week Low After Earnings Miss

Korea Electric Power Corporation (NYSE:KEP) reached a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $11.13 and last traded at $11.1350, with a volume of 889292 shares traded. The stock had previously closed at $11.44.

The utilities provider reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.89). Korea Electric Power had a net margin of 8.15% and a return on equity of 15.70%. The company had revenue of $14.60 billion during the quarter, compared to the consensus estimate of $19.67 billion.

Analyst Upgrades and Downgrades

KEP has been the topic of several research analyst reports. Nomura downgraded shares of Korea Electric Power from a “buy” rating to a “neutral” rating in a report on Thursday, August 13th. Zacks Research cut shares of Korea Electric Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th. Finally, Weiss Ratings downgraded shares of Korea Electric Power from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Hedge Funds Weigh In On Korea Electric Power

A number of large investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its stake in shares of Korea Electric Power by 102.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 136,803 shares of the utilities provider’s stock worth $1,655,000 after acquiring an additional 69,166 shares in the last quarter. Engineers Gate Manager LP lifted its position in shares of Korea Electric Power by 166.5% in the second quarter. Engineers Gate Manager LP now owns 105,619 shares of the utilities provider’s stock worth $1,278,000 after purchasing an additional 65,994 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Korea Electric Power by 18.6% during the second quarter. NewEdge Advisors LLC now owns 45,674 shares of the utilities provider’s stock worth $553,000 after purchasing an additional 7,150 shares during the last quarter. Nykredit A S acquired a new position in Korea Electric Power during the second quarter worth $121,000. Finally, Corient Private Wealth LP grew its position in Korea Electric Power by 54.2% in the second quarter. Corient Private Wealth LP now owns 265,049 shares of the utilities provider’s stock valued at $3,207,000 after purchasing an additional 93,194 shares in the last quarter.

Korea Electric Power Trading Up 1.0%

The company has a debt-to-equity ratio of 1.60, a current ratio of 0.44 and a quick ratio of 0.29. The business’s 50-day moving average is $11.81 and its two-hundred day moving average is $13.38. The firm has a market cap of $14.55 billion, a P/E ratio of 2.64, a P/E/G ratio of 2.14 and a beta of 0.95.

Korea Electric Power Company Profile

Korea Electric Power Corporation (KEPCO) is South Korea’s state-owned, integrated electric utility. The company is responsible for the transmission and distribution of electricity throughout South Korea and supplies power to residential, commercial and industrial customers.

KEPCO’s business includes electricity generation through affiliated companies, power transmission and distribution, and related energy services. Its generation-related subsidiaries include Korea Hydro & Nuclear Power, which operates nuclear and hydroelectric facilities, as well as several companies focused on thermal and renewable power generation.

Founded in 1961, KEPCO has also pursued international projects involving power generation, transmission, renewable energy and other energy infrastructure.